Ottawa, ON – Scott Aitchison, Conservative Shadow Minister for Housing, released the following statement on the latest housing start numbers from the Canadian Mortgage and Housing Corporation (CMHC):
“Mark Carney promised to deliver 500,000 housing starts every year with ‘the most ambitious housing plan since the Second World War.’ Today, his own housing agency confirmed that Canada is now building less than half his promise – an annual rate of 238,971 housing starts – in June.
“Kevin Hughes, the Deputy Chief Economist at the CMHC, noted that ‘There is little doubt that the slowdown reflects rising uncertainty, higher development costs, weaker demand and more unsold homes. Looking forward, we expect that this environment will continue to hold back new housing construction in Canada over the short-to-medium term and drive 2026 actual housing starts below last year’s levels.’
“While housing starts fell 6 per cent across the country, in our larger population centres with more than 10,000, the decline was even worse as monthly housing starts dropped 13 per cent year-over-year. Victoria saw their starts collapse 91 per cent while they cratered 39 per cent in Edmonton, dropped 35 per cent in Vancouver and declined 33 per cent in Halifax.
“Compared to last year, the first 6 months of 2026 saw housing starts plummet in many provinces of the country. In Nova Scotia, starts are drastically down by 25 per cent. Things don’t look better out West, as Alberta saw a collapse of 21 per cent.
“As housing starts fall and Canada builds fewer homes, prices are expected to rise. Royal LePage projects that aggregate home prices will increase another 2 per cent by the end of the year, rising to $823,344. For those in Quebec City, prices are expected to rise 8 per cent, while residents of Montreal and Winnipeg are projected to see prices increase 5 per cent. Meanwhile, Halifax, Edmonton and Regina are forecast to see housing prices four per cent higher.
“Higher prices require higher incomes, with those in Vancouver, Toronto and Victoria now needing to earn $225,200, $195,720 and $185,500 annually just to afford the average home. Even those in smaller cities such as Victoria and Hamilton need to earn at least $185,500 and $157,030, respectively, while those in Montreal need to earn $128,260.
“It’s clear Mark Carney’s solution isn’t working. The Parliamentary Budget Office previously found that Build Canada Homes will build just 5,000 homes per year, which pales in comparison to the 14,112 fewer starts in June. Meanwhile, the Liberals are spending $1.45 billion bailing out industry insiders and bankers instead of building homes.
“Conservatives have real solutions to get homes built with a housing plan that will cut the GST on all new homes under $1.3 million, reduce development charges and reward municipalities that approve more housing. We will restore the promise of Canadian homeownership by getting the government out of the way so builders can build and every family can have a place to truly call their own.”